Onshore Wind Energy Market – Overview
The renewable
energy movement is one of the crucial factors adding to the expansion of the
onshore wind energy market. Market reports connected to the energy and power
industry have been offered by Market Research Future which makes reports on
other industry verticals that aims to study the current market scenarios
better. The market is expected to capture a 27 % CAGR in the duration of the
forecast period.
The
rising development of facilities to harness wind energy is proving to be
significantly conducive to market growth. The market is also considerably
influenced by the need to achieve a levelled cost of electricity. The
enhancements in the product lines for wind turbines is expected to motivate the
onshore wind energy market further. The market is expected to gain various
prospects due to the demand for higher capacity of electricity globally. Adapting to the recent novel COVID-19
pandemic, the impact of the COVID-19
on Onshore Wind Energy Market
is included in the present report.
Segmental Analysis
The global
onshore wind energy market has been segmented on the basis of application,
end-use, grid connectivity, power capacity, wind capacity, and region. The
application-based segmentation segments this market into demand responsibility,
frequency responsibility, peak power management, power storage, and system
stability.
Based on end-use,
the market has been segmented into commercial & industrial, hybrid power,
utilities, and others. Due to the increasing demand for electricity from the
nations, utilities hold the major market share among all segments.
As per grid
connectivity, the market has been segmented into on-grid and off-grid. On the
basis of power capacity, the market has been segmented into less than
500-kilowatt (KW), 500 KW to 2 megawatts (MW), and more than 2 MW. The wind
towers that can generate more than 2 MW are expected to dominate the global
market because new technologies are able to generate a high capacity of wind.
Regarding wind
capacity, the market has been segmented into low wind speed, medium speed wind,
and high wind speed. During the forecast period, the high wind speed projects
are expected to dominate the global market because the use of those turbines is
increasing that operate individually and generate power of around 2.3 MW.
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Regional Analysis
The analysis on
the basis of regions carried out for the onshore wind energy market includes
regions such as Europe, North America, Asia Pacific, and Rest of World.
The onshore wind
energy market is anticipated to observe remarkable development all through the
forecast period.
The Asia Pacific
region led the onshore wind energy market globally in 2017. In the Asia Pacific
region, factors like the growing installed capacity of electricity along with
growing stress on renewable energy in countries such as India, China, and Japan
are expected to push the onshore wind energy market development through the
forecast period.
The North
American and European region is also anticipated to observe noteworthy
development through the forecast period. The growing concern for clean energy
together with strict regulations for standard power generation is expected to
boost the progress of the onshore wind energy market in these regions.
Competitive Analysis
The important
contenders shaping the onshore wind energy market globally are General Electric
Wind Energy (U.S.), Siemens AG (Germany), Envision energy (China), Suzlon
(India), Vestas Wind System A/S (Denmark), Enercon GmbH (Germany) Nordex S.E.
(Germany), Repower (Switzerland), Gazelle Wind Turbines (U.K.), Mitsubishi
Power Systems (Japan), and Clipper Wind Power (UK) are among others.
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